annual report - sisterworks · entrepreneurial dreams. we also want to encourage ... connections...

36
Annual Report 2017–18

Upload: others

Post on 18-Mar-2020

1 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

Annual Report 2017–18

Page 2: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

CONTENTS

3 From the Chairman

4 Report from the CEO

5 SisterWorks – Our Purpose

6 The SisterWorks Concept

8 Business Review

14 Implementing 2018-2020 Strategy Plan

18 Fundraising

20 What we are building for the future

24 Thanks and Acknowledgements

Financial Report 2017-18

SisterWorks Inc.ABN 92 370 950 371

393 Swan Street, Richmond [email protected]

Portraits of Sisters on the cover and elsewhere in this report were taken by Elli Bardas, winner of the inaugural Ballarat International Foto Biennale Martin Kantor Portrait Prize in 2017.

Special mention must go to Andrew McCutcheon who was one of our founding members, from 2014 to 2017. He was committed to encouraging local communities to develop projects to address their

social issues. He helped us as migrant women in our grassroots organisation, to connect with key people and to speak up on our own behalf. Andrew knew that we have much to contribute and give back to our new home: Australia.

We feel very proud and grateful for his contribution. Sadly, Andrew died in December 2017, but his contribution and legacy will always be with us.

MADE

W I T H

LOVELO

CA

LLY

ETH I CALLY

SI S T E R W

O

RK

S

Page 3: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

3

Five years old – and what a journey it has been! From very small beginnings, SisterWorks has evolved into a prominent not-for-profit social enterprise recognised by the community for its increasing contribution to improving the lives of the most vulnerable migrant, asylum seeker and refugee women and supporting them on their way towards

achieving financial independence.

The pages of this annual report bring alive the many ways in which the SisterWorks experience has transformed the lives of so many Sisters.

Our focus over the past financial year has continued to be on increasing our social impact by building a sustainable organisation, capable of delivering on our mission and our ambitious strategic goals, through a multi-pronged approach:• Further developing our organisational capacity

through clarifying structure and roles prioritising opportunities for Entrepreneurs and volunteers, and implementing improved systems and processes fit for growth.

• Extending our product range and improving our capacity to generate increased revenue streams – retail, corporate, wholesale and online, thereby providing greater opportunities for existing and new Entrepreneurs.

• Increasing income from donations and fundraising activities thereby reducing dependence on grants.

• Exploring opportunities for improving access to, or replicating, the SisterWorks model in areas of need in order to reach more future Entrepreneurs.

From the Chairman

The Board and its Committees (particularly the Strategy Committee) have benefited significantly from the diverse range of skills and experience of its members and volunteers. All have contributed considerable time and effort to the strategic development of SisterWorks. Of special importance was the addition of two Entrepreneur Directors – Victoria Minani and Satomi Shimizu. Together with Alia Sultana they bring the voices of the Entrepreneurs to the Board table enabling the Directors to remain deeply connected to our mission.

Sonya Davies retired as Deputy Chair in February 2018. A special thanks is due to her for her contribution to SisterWorks, in particular for leading SisterWorks development of the packaged food line, now a significant proportion of our total sales.

Of course, none of the achievements of SisterWorks would be possible without the dedication and contributions of many people – our Founder and CEO, Luz Restrepo, whose vision, energy and drive is at the very core of the organisation.

To our capable and talented staff, our committed skilful volunteers and my fellow Directors. Thank you! It has been a privileged to serve as your Chair.

Mark Jankelson

Page 4: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

4

When we dream of a better life for ourselves, our family and community, we have hope. Dreams allow migrant and refugee women to shed the past, to move forward. Our dreams and hopes for a better future push us all to learn, to share, and to work hard. And importantly, when we work together, we are strong.

At SisterWorks, our aim is not just to see the value of supporting migrant and refugee women in their entrepreneurial dreams. We also want to encourage the broader Australian community to join our efforts in supporting economic empowerment.

Since we were incorporated in 2013, SisterWorks has grown and evolved. Together we have achieved amazing things – we have expanded our network of Sisters, established and maintained strong connections within the wider community, and set up two retail shops and a fully operational website to continue to develop our business.

The percentage of sales revenue from total income increased from 14% in 2016 to 25% in 2017, with 58% of this money going to our Entrepreneurs. However, outcomes created by us go beyond financial rewards – including improvements in mental health, confidence, self-sufficiency, enhanced English skills and faster integration into Australian society.

These outcomes have been achieved by the shared visions and passion of all the Sisters, whether they are board members, employees, volunteers or Entrepreneurs. Thank you all for your remarkable contribution, for your love and care. Through support for each other we have strengthened each other.

SisterWorks is a strong and connected family. Each experience is a piece of our bigger picture which pushes us to reach our dreams, to grab hold of our Southern Cross Stars.

Luz Restrepo

Report from the CEO

2020 STRATEGIC GOALS

Pathways for 400 women to move into employment and entrepreneurship.

• At least 200 women at SisterWorks, Richmond transitioning from Levels 1 and 2 to Levels 3, 4 and 5.

• Another 100 women on Levels 1, 2 and 3 engaged and working with us (in two new SisterWorks Homes).

• 50 percent of SisterWorks’ revenue will come from sales of products and services, of which over half the sales gross profit will go to the Entrepreneurs.

A defined SisterWorks ‘Home’ model which can be readily replicated.

People feeling proud of SisterWorks being part of their local community.

Page 5: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

5

SisterWorks – Our Purpose

SisterWorks Mission As a not-for-profit social enterprise, SisterWorks’ mission is to support women who are migrants, asylum seekers or refugees to become financially independent and happily settled in Australia.

Vision All migrant women in Australia have the opportunity to become economically empowered.

Values, Beliefs, BehavioursTogether we support the belief that

Work Empowers Women.Together with empathy, we are strong.Together we embrace diversity and difference.Together we have complementary knowledge.Together we acknowledge each other and

our achievements.Together we learn by doing.

The Entrepreneurs – Our business partners Currently SisterWorks operates in partnership with the most vulnerable and marginalised migrant women living in Melbourne (and Victoria, in the near future) who are variously:• Mothers and family carers with limited English skills • Unfamiliar with Western culture • Socially isolated • Illiterate in their own language• Have little to no work experience.

These women require a specialised approach to overcome their personal challenges and transition into work. What makes SisterWorks unique is the provision of initial support for their work and for the entrepreneurial journey. Our SisterWorks model emphasise the process of ‘learning by doing’ – learning how to work and create business in the Australian context, through working and doing business together within a supportive network.

According to the Australian Government Department of Human Services, on 30 June 2017 there were 299,400 working-age Australians from migrant and refugee backgrounds on working age payments, of these: • 65% were female • 85% lived in major cities• 78% have a non-English speaking background.

In Victoria 266,080 people, who were able to speak another language in 2016, reported difficulty speaking English.

— Australian Bureau of Statistics 2016

Page 6: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

6

SisterWorks Home

The SisterWorks Home is a Workplace and Learning Centre designed to help migrant and refugee women, overcome significant social and employment challenges. Our SisterWorks Home provides four key functions: • A Design Lab where women learn to make

high-quality products.• A commercial kitchen where women learn to cook at

a business level, and make retail quality packaged food under the guidance of a professional chef.

• Retail shops and pop-up shops where they learn to sell their handcraft and packaged food. SisterWorks has a new shop in South Yarra and we are also

offering pop-ups within the premises of other businesses and organisations. Not only does this increase business opportunities for SisterWorks and its Entrepreneurs, it also allows our Entrepreneurs to gain more retail and sales experience.

• A Business Hub to support the new Entrepreneur in creating a sustainable micro-business once she has the confidence to promote her marketable product.

The SisterWorks Home gives Sisters both purpose and a place to socialise in a new country. Without such a place to come to and connect, these women become isolated.

The SisterWorks Concept

Page 7: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

7

PROBLEM SOLUTION SOCIAL IMPACT

Long term unemployment status and welfare dependence of migrant women

Our SisterWorks Model emphasises on ‘learning by doing’ – learning how to work and create business in the Australian context, through working and doing business together within a supportive network.

Levels of financial independence:• Role model for our children (social

networks, ties with the community, confidence in speaking English)

• Discretionary money• Free of the welfare system• Full financial independence

(re: bills – tax – superannuation)

Emotional Physical Financial Independence

The Journey

The SisterWorks Model fosters individual progress. It identifies the stages of independence – reaching for the Southern Cross Stars.

Newly arrived women. We provide social support while she is addressing her options in Australia.

Women settled in Australia but long-term unemployed. We help them identify their skills and explore options.

Women with potential products or a business idea. We support them to improve, develop and market their ideas.

Women with good products or services. We assist them to improve product quality, create new products and improve their selling/marketing skills.

Women with marketable products, good selling skills and regular incomes. We support them to develop their businesses and create their own opportunities.

SisterWorks Model

Entrepreneur in training

Level 1

Entrepreneur in training

Level 2

Entrepreneur in training

Level 3

Entrepreneur

Level 4

Entrepreneur

Level 5

Page 8: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

8

Business Review

Social Impact: Entrepreneurs + Volunteers + Internship + Staff in the five years of operationSisterWorks is a place where everyone supports and empowers each other – no matter who they are or where they come from. As a SisterWorks Family, each person is a Sister. Over the last five years 451 Sisters have been part of our Family. The sense of community, of working together and supporting each other, has been one of the key components of our SisterWorks Family. This is why our social impact goes beyond supporting the Entrepreneurs.

About the EntrepreneursThe Entrepreneurs are the Sisters who are working towards reducing their dependence on welfare by developing confidence and business skills, and by networking. Spread through this report you will find some of their stories that convey how SisterWorks creates a sense of community and social inclusion for migrant women.

In this section you would find the economic indicators of our success.

Five years on we are making an even greater impact, as shown in the following tables. It indicates the social impact on migrant women’s economic empowerment. Eighty-seven thousand dollars is not a great deal of money considering the number of Entrepreneurs involved, but as little as a few hundred dollars per month can make a difference to a woman in a poverty cycle and welfare dependent.

SisterWorks will remain a hybrid not-for-profit charity and social enterprise. As much of the sales revenue as possible will be shared with the Entrepreneurs who participate in our programs. Our social enterprise will never be able to operate as a stand-alone business.

SisterWorks Entrepreneurs

JUNE 2013 JUNE 2018

Entrepreneurs supported 25 187

Entrepreneurs with their own businesses

0 20

Entrepreneurs working as employees

0 18

Entrepreneurs studying something other than English

0 9

Entrepreneur revenue

2013-14 2017-18

Entrepreneurs invoicing SisterWorks

8 68

Entrepreneurs’ share of revenue

$1,919 $87,183

Entrepreneurs and SisterWorks share of revenue 2013–2017

$100,000Entrepreneurs revenue

SisterWorks revenue$80,000

$60,000

$40,000

$20,000

2013 2014 2015 2016 20170

Page 9: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

9

About the Volunteer+ Internship + StaffSince 2013, we have supported 187 Entrepreneurs. However, the pathway of entrepreneurship or employment goes beyond supporting the most vulnerable migrant and refugee women.

During this period, 224 amazing volunteers from 49 different countries, including Australia, have supported, and have been supported, by us: • 48% have been migrant women who are now

getting work experience in Australia; women who are learning how to use their professional skills in Australia. The rest are Australians who have gained an insight into the advantages and challenges of a diverse workplace.

• 85% have been young women who gained work experience to enable them to move into meaningful jobs or to change professions. The rest are retired women who offer their professional skills.In addition, 20 students have completed their

internship with us. This is a key area, as they are part of the next generation who will support and build the future Australian workforce, alongside the new migrant women.

SisterWorks status

2013-14 2017-18

Staff and contractors 0 4 staff and 6 contractors

Premises Shared community centre in Elwood and Collingwood

Our Richmond premises with shopfront, Design Lab, Business Hub and storage. A commercial kitchen in Richmond, thanks to the support of City of Yarra. A second retail shop in South Yarra.

Website Information only based website Website with blog, donation option and e-commerce platform

% of income from sales 10% of $64,881 24% of $609,976

Our business is about supporting pathways to employment. Twenty women have moved into employment through being part of our staff:• Professional migrant women without Australian

work experience.• Mothers with young children who wish to re-engage

in their field of expertise.• Graduates having their first professional job with

SisterWorks.• Professional women from the corporate sector who

wish to engage in the social sector.As we expand and become more professional,

we need to invest in our future.

Page 10: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

10

From small, local markets to an emerging presence in retail, corporate and wholesaleSisterWorks was born in small, local markets where Entrepreneurs were selling their unique, individually made crafts. Now we are looking for ways to become more productive and sustainable, thereby supporting many more women. This year, SisterWorks was proactive in exploring other sales channels in a bid to sell greater quantities of high-quality products made by Entrepreneurs in production teams. The process to make these particular products are easy to teach and engage women with no existing craft skills.

However, developing business opportunities, whilst also engaging more Entrepreneurs to develop high quality products, is our ‘chicken or egg’ dilemma. With our current range of SisterWorks-labelled products, it is time to increase business opportunities by focusing on retail sales. Each time SisterWorks Entrepreneurs fulfil demand, more opportunities will be opened, and more income streams are available for them and for SisterWorks. Then more vulnerable migrant women can be engaged through the process. Increasing sales must therefore be a high priority for SisterWorks.

Business Review

This is the reason why, after our planning session in January 2018, we took the following strategic decisions:

1 Open a second SisterWorks retail shop in a prime location, 101 Toorak Road, South Yarra. The shop

started as pop-up in April 2018. After identifying the potential of the shop, we signed a two year contract in June.

2 In March 2018, we started work on a new website and the e-commerce platforms.

We also contracted an expert to develop our digital communications tools.

3 As our knowledge about customers has so far been organic, it is time to develop a proper

market research strategy. In April 2018, we received our first Victoria Government voucher to pay a third party to identify gaps in the market, allowing SisterWorks to develop and package up new services to reach new and emerging customers.

4 While the market research is being done, we continue the organic exploration of emerging

corporate and wholesale purchasing, representing a big opportunity, given the large sales value per customer. From four corporate orders in 2016-17 totalling $6,500 to 14 orders totalling $14,600.

SisterWorks Sales – 2016-17 and 2017-18

$150,0002016-17 2017-18

$120,000

$90,000

$60,000

$30,000

Shops and Pop-ups

Online Shops

Events and Markets

Corporate Total Sales Income

0

Page 11: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

11

Saida. Saida has been with SisterWorks almost since the beginning. She became an Entrepreneur by watching and sharing time with other women like

her in shaping their small business. Though never seeing herself as a business woman, this is now her dream. Saida plans to extend her jewellery business, selling her products to more clients. Having migrated to Australia from Rwanda, Saida found herself with nothing to do, no job nor any aspiration for a future career. After meeting Luz at the Springvale Community Centre, she decided to give herself a chance and joined SisterWorks’ big family. What she loves most is the feeling of togetherness, and simple things such as sitting down and talking to people are very special to her. “We always like to say SisterWorks is our home.”

Zena. Some of the greatest growth moments of SisterWorks have happened with Zena involved. SisterWorks is her home and the Sisters are her extended family.

She often says that this is the only place in Melbourne where she can experience a true sense of community. As an employee, this organisation gave Zena the diverse work experience needed to start her own business as a celebrant. It taught her to lean into the uncertainties, to adapt and to work hard! Zena is one of our ongoing contributors; she chooses to make contributions to SisterWorks from her rising business profits, so that other women can access the same lessons from which she gained. Today, Zena is a volunteer and this role continues in challenging her to try new ideas and learn new skills. With her magic she has kept us focused many times and in having her at our home, we can reassure ourselves that ‘together we are stronger’.“To me, SisterWorks represents community, contribution and connection.”

Lily. If you would like to meet a creative soul, come to SisterWorks and meet Lily. After finishing a Master’s Degree in Social Work in 2009, she began engaging people

therapeutically using creative arts. She worked with vulnerable children and women, running therapeutic focus groups. Lily also studied design and art and has run creative art workshops and classes for adults and children here in Melbourne. Since coming into contact with SisterWorks a few years ago Lily has found her involvement with the organisation has had an enormous impact on her creative work. She has learned ways to refine her craft, expand her network, and found ways to upsell, market and promote her products. Yet, Lily’s dream goes to the base of her soul. She wants to make a viable living from her craft and fashion creations; to use her hands to supply her pantry as well as her heart. Lily recognises and values profoundly how much SisterWorks has influenced her evolution with the support of mentors and the overall experience of being surrounded by other Entrepreneurs who share their skills and ideas.

Pamela. Five years ago, a surprise left Pamela both petrified and excited. It was time to get a new job, but life had different plans and gave her the opportunity to be a mum

again. Having two children with a third on the way, and being 44 years old in a new country, everything seemed challenging. Around this time she found SisterWorks where she rediscovered her craft skills gained as a kid in Chile. Making jewellery became a new love and she couldn’t stop herself from constantly dreaming up new designs and materials. Pamela even went to Peru to take classes, then Bali to find experts in wire crochet after which she decided to start her own business. With support from SisterWorks she pursued her entrepreneurial dream instead of a “normal 9 to 5 job”. Pamela wishes to continue expanding her brand across stores in Australia and take over the online business.

SISTERWORKS STORIES

Page 12: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

12

Louisa. Some are destined to help others from a young age, and this is what happened with Louisa. Her story is the perfect example that age need not be a limitation when it

comes to changing the world. Currently in year 12, she heard about SisterWorks at school, through an inspiring speech by one of our team members about our organisation. Following this, a week of work experience with us and left us in awe of her vision and compassion. At 17 years of age, Louisa is determined to look after underprivileged people, and even though our journey together was short, her experience as a young volunteer has inspired her dream. Louisa says this experience has surely clarified the path she would like to take in life, recognising how privileged she is and how much impact her actions can have on other’s lives. We hope to see the promising future of this helper again in our home at Richmond.

Shiro. When you have been close to war, your appreciation for a quiet simple life is deep. Shiro and her family enjoy walking around Melbourne and she personally

feels empowered knowing that her choice in coming here gave her children hope for a better future. From Sri Lanka, she knows that even if you have plans, sometimes life has bigger ideas. Shiro’s pharmaceutical studies were interrupted when she decided to follow love and come to Australia. Her dream is to open a fashion shop where she can sell clothes, accessories and crafts that the Australian market loves. But before reaching her dream, Shiro is using her time wisely at SisterWorks, learning all about business. She is part of the ‘How to Run a Business’ program and has learnt how to sell, what the market needs, how to distribute her products and how to develop the right product for her skills (baby clothes and scarfs are her top two). Shiro is business-minded and is working hard to grow her range.

Catalina. As an international student, Catalina isolated herself in her master’s degree studies and used her spare time to balance two hospitality jobs. She felt

the professional life she loved so much, doing communications in Colombia, was part of her past and her present was destined to be serving coffees or drinks. For almost two years she dared not produce her CV in order to work in communications, feeling disempowered and lacking confidence to follow her dream. Then SisterWorks happened. She started to create content again, to tell stories and to recover the communications-passionate woman who had been too afraid to come out. Now, happily pursuing her career, she has moved from volunteer to communications contractor, and is close to graduating as a Master in Communications and Media Studies. A professional self has always been Catalina’s dream, and so she wishes to continue telling stories that create impact for those in need.

Adelia. She arrived from Indonesia in January 2017 to continue her tertiary education. Before finding SisterWorks, she was juggling a Masters degree in Community

Development at Victoria University and working as a VIP waitress at night. When Adelia joined SisterWorks as an intern she didn’t have many expectations from her new position. However, she was surprised to find out that her new internship secured her a job in retail and gave her a lot of confidence. Now having a day-time job makes her life much easier. The thing that Adelia most appreciates about SisterWorks is that it gave her the dream to start her own social enterprise one day. SisterWorks inspired her to work closely with women, especially mums, and she really loves to feel part of a community that respects her values. “My mum is a single parent, and I know their struggles.”

SISTERWORKS STORIES

Page 13: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

13

From unique crafts to ‘Handmade with Love’ products, the focus is on supporting women who lack existing craft/entrepreneurial skills.

Entrepreneurs’ Own ProductsWhen Entrepreneurs have gained confidence, improved their English and developed their own products with a potential market, SisterWorks is their first sales channel, after which they need to look for other market and business opportunities.

As Entrepreneurs connect with each other, they learn of other organisations and businesses where together they can sell their own products and find additional business training. While developing their own brand and market position, Entrepreneurs in Levels 4 and 5 benefit from their association with the SisterWorks brand. Entrepreneurs who purchase their own materials and utilise their own resources for their products, receive 75% of the sales price. This is on the proviso that they learn how to sell them in our shops and sales channel options, while at the same time helping other Entrepreneurs-in-training.

SisterWorks Label productsSisterWorks has an important role to play in helping women who do not have existing craft or entrepreneurial skills. The SisterWorks Label craft and packaged food products focus on Entrepreneurs-in-training, enabling us to provide training opportunities and a quick income for them. These are our self-branded products where SisterWorks provides the design and materials, and the Entrepreneurs-in-training make the products with the support of industry experts in our workspace. In this case, 50% of the gross profit go to the Entrepreneurs-in-training.

SisterWorks packaged food

The first team of Entrepreneurs exploring packaged food started in May 2017, with sales starting in October 2017. The sale of these products increased rapidly. By December 2017, packaged food represented 25% of sales.

The second team of Entrepreneurs-in-training cooks started work in June 2018. Our expectations for 2018-19 is to explore the wholesale market, giving the two food production teams income while they plan their own opportunities using their developing cooking and business skills.

Business Review

SisterWorks beeswax wraps and plastic-free products

In August 2018, the craft team identified products which could put to use the donated fabric material we had accumulated, while at the same time we needed to trial a product that was easy to teach Entrepreneurs-in-training. Replicating some of the lessons we learnt with the food team, Jennie (a volunteer) came up with the idea of the beeswax wraps, and rapidly, the craft team learnt the process. As with the packaged food, in November 2018, this product has proved a popular sales item.

Supported by industry experts, not only are we exploring the development of other plastic-free products by teams of Entrepreneurs, we are also developing a new way to sell complementary SisterWorks Label products in our hampers.

MADE

W I T H

LOVELO

CA

LLY

ETH I CALLY

SI S T E R W

O

RK

S

Page 14: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

Other SisterWorks Label craft products made by teams of Entrepreneurs

Our focus has been to take our new knowledge from the success of the food production and training process, and replicate these best business practices in our four specialist craft teams: Sewing, Knitting, Jewellery, Homewares. We are building up the Design Lab from a community craft group to self-managed production teams but without losing our sense of community. With clear structure and advice from industry experts, we can ensure our Entrepreneurs-in-training are receiving appropriate skill instructions, developing new products, increasing production and managing quality control – all vital to increased sales.

The SisterWorks sewing team was born at the start of 2018 when Milia from Brazil, a Senior Entrepreneur who has a business making customised toys and teaching sewing classes, designed a set of five beautiful dolls for us. Then she taught a group of seven beginner Entrepreneurs and together they created a limited edition of the Little Sisters Dolls. SisterWorks then paid for them to be used in our donation campaign.

Once this project was completed, the sewing team, with a new set of skills, focused on developing kitchen related products and soft toys, i.e. reusable bags, kitchen sets and aprons, as well as toys made with recycled baby blankets.

This financial year the focus was on continuing our support of the current group of Entrepreneurs with whom we are working, while beginning the implementation of our 2018–2020 strategy.

Between October 2017 and January 2018, with the guidance of Social Traders and the Strategic Sub-Committee, we developed our 2018–2020 Strategy Plan. The focus is on these strategic goals: • Raise brand awareness. • Increase our impact where there is a significant

number of vulnerable migrant women. • Underpin our unique selling proposition of

“made locally with love”.• Prioritise product lines and product development.• Further develop each of the sales channels.• Review our SisterWorks value chain and key

support processes that will allow us to drive replication of our model.

• Design the technology architecture which is tightly integrated to improve data quality and efficiency in day-to-day operations.

• Start to increase independence from the Founder, investing in a team of Sisters focused in fulfilling the day-to-day functions while the Founder, supported by the Board of Directors, develop future strategies.

Business Review Implementing 2018–2020 Strategy Plan to prepare us to grow

PR

OC

ESS

ES TECHNO

LO

GY

S I S T E R S

2018–2020STRATEGY

14

Page 15: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

15

The following graphics highlight key areas needed to underpin the Strategy. If the team does not translate the Strategy processes effectively, our strategy is little more than a piece of paper. Clear processes and the appropriate technology will ensure our Strategy is replicated correctly. The Sisters are then able to work with respect and trust as a well balanced team.

PROCESSES

As a not-for-profit social enterprise with a significant social impact, SisterWorks seeks balance between the processes that allow us to deliver our mission and the support processes needed to develop a strong organisation with a sustainable business model.

TECHNOLOGY

In February 2018, we retained a team of contractors – Systems and Processes Team – with the necessary qualifications to design a technology structure which is tightly integrated to improve data quality and efficiency in day to day operations. By the end of July,

70% of the Systems and Processes Team’s project has been completed.

SISTERS

Our journey has meant considerable changes. We have expanded our operations and we have expanded our team. Our family has welcomed new faces and witnessed growth and empowerment among our members. Being a culturally diverse workplace inspires creativity, drive and innovation, but also brings challenges and growing pains which we are learning to address with open and loving communication.

As the SisterWorks business is about generating pathways of entrepreneurship and employment, the intention is not to employ a large number of people, but rather to fill whatever roles are necessary, with priority given to our Entrepreneurs and volunteers. As such, we need board members to work alongside paid staff and volunteers in the corresponding functional areas of the organisation.

TECHNOLOGY SYSTEMS AND PROCESSES

Solution enabled by the GSuite Productivity Tools i.e. email, chat,

document storage

Xero FinanceAccounting and

Finance

MailChimpNewsletter

Management

Cin7Inventory Management

and POS SystemRetail, Market, Corporate

and Wholesale

WordPressExternal Website

Woo CommerceOnline Shop

NewsletterUpdates

Hosting

Sales and Stock Updates

CustomerCommunication

Sales Updates

Finance Updates

Customer Updates

infoodle CRMCustomer Data

Page 16: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

Current staff/contractors Future positions

Implementing 2018–2020 Strategy Plan to prepare us to grow

Boards and Governance

Entrepreneurs Recruitment and Engagement

Business Development

SalesProductionSkills Training and Product Development

IP Model / Social impact

Finances

Human Resources

Marketing and Communications

Grants and Fundraising

SISTERWORKS PROCESSES – FUNCTIONS AND POSITIONS

16

General Manager

Operations Lead Sales LeadEngagement Lead

Craft Production Coordinator

Food Production Coordinator

Design Lab Coordinator Projects / Prod. development

Corporate Sales Representative

Wholesale Sales Representative

Market/Pop-upCoordinator

Finance Officer

HR Lead

Market Lead

Grants Lead

Communications and Media Coordinator

CEO

Design Lab CoordinatorTraining

SUPPORT PROCESSES

COREPROCESSES

Administrative Assistant

Page 17: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

17

Dolma. Dolma will say ‘hi’ with her smile even if you don’t know her. Maybe she has that kindness that only teachers have from her time back in India when she taught other

women how to make clothes. She dreams about making the best quality clothes and dolls, knowing this will only happen by improving her skills. Dolma’s dedication to her classes and time she spends practising new techniques and styles is remarkable. She is a woman with many dreams, and like her clothes, she strategically sews them all together: dreams about sharing her knowledge to help others learn how to sew puppets, balls and anything their minds wish to create. From the time she wondered about the future of her family while her husband was a political prisoner, to current days when she is able to speak English as she never imagined, Dolma knows how important is to be independent and feel confident in her own skin.

Macarena. Once Macarena put the backpack on her shoulders, she was never the same woman again. Her dreams to see the world finally became true and after one year of

travelling, she decided to come to Melbourne to face new challenges. But there were no big projects to manage for others, nor financial sheets as she did for 8 years in Chile. Instead, she had to learn English and fight her way up the professional path again. She felt lost, she was not the professional she treasured so much and all she could see about herself was the label of INTERNATIONAL STUDENT. Her journey with SisterWorks keeps evolving. From being an Entrepreneur in the cooking program, she is now part of the staff as Operations Lead, in charge of the Design Lab operations, inventory, part of the costing, retail channels and workshops. Maca is living her dream, to facilitate for others the hard processes endured by migrants in Australia. Macarena’s dream is to use her professional skills to assist women to find their way again.

Tracy. Tracy is Australian, but with her origins in Hong Kong. For many years she worked in the legal and insurance industry. While looking for a volunteer position, one

day she walked past the SisterWorks shop in Richmond and wondered about the women inside. Then she found a volunteer opportunity online for SisterWorks, remembered the shop she had seen and immediately applied. Tracy’s aim is to do work that makes a difference for migrant women in the community, and what she loves the most about this social enterprise is that every day is challenging, and all these lovely women teach her a lot. Soon Tracy will be taking the lead of SisterWorks Human Resources. She says that now she is much happier than when working in the corporate industry, with life more fulfilled, and is very grateful for the sense of community and family that SisterWorks is able to give her.

Emma. SisterWorks was Emma’s first job out of university. She studied international studies and human rights and always kept the hope of finding a place where

she could work to improve the life conditions of individuals experiencing disadvantages. It was Christmas time when she found SisterWorks while doing some research for her gift shopping and used the opportunity to apply for a volunteering role. After six months of volunteering she became the Business Manager. Then, she moved to be Entrepreneur Manager and developed a very supportive environment for the Entrepreneurs. Her dream and goal became clear by working with SisterWorks: To be able to work in an environment that creates tangible social impact, whether that is through the avenue of employment or any other alternative. Emma left SisterWorks to continue working on her dream: She is part of the Social Traders family now, creating employment pathways for disadvantaged Australians.

SISTERWORKS STORIES

Page 18: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

18

SisterWorks will remain a hybrid not-for-profit charity and a social enterprise. As much of the sales revenue will be shared with the Entrepreneurs who participate in our programs, the social enterprise will never be able to operate as a stand-alone business. Our plan is for more than 50% of gross profit from sales going to the Entrepreneurs in order to strengthen the social impact on migrant women’s economic empowerment. However, the balance still needs to come from grants, sponsorships and donations.

In line with our strategic actions – increase income from donation and fundraising activities, reducing SisterWorks’ dependence on grants – this financial year we focused our efforts in fundraising and community engagement. Two key activities were developed:• In September 2017 we held a Gala Night. It was

important because it provided an effective and meaningful way to connect the Entrepreneurs with supporters. The Gala featured ‘exhibits’ run by the Entrepreneurs, with the aim to meet corporate supporters in an inviting social setting, with our support being available if needed. It was also the official launch of our first collection of SisterWorks packaged food.

• Between March and May 2018 we had a successful crowd-funding campaign supported by the Ian Potter Foundation which pledged the first $70,000 of our campaign on condition that the same amount was raised by donors (or raised from donations) So, at the end the campaign, we raised $142,385 with 281 donors and our major sponsor.However, this crowd-funding campaign went

beyond expectations to raise money for our capacity building. It was a great marketing tool to increase awareness – all of our sponsors, board members, staff, volunteers and Entrepreneurs were involved and excited with the great achievement. Also, a great article in The Age newspaper not only gave us an extra push to reach the tipping point, it connected us with new business opportunities and sponsors.

Fundraising

Page 19: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

19

Sachie. Sachie is originally from Sri Lanka. She studied political sciences in Canberra and was exploring opportunities for a job in Australia. She knew exactly

where she wanted to work, in third sector organisations or development spaces with impact in vulnerable communities. But the problem was lack of experience. Although she had worked in Sri Lanka, she knew she needed local experience. Then she found SisterWorks. Sachie was eating, breathing and sleeping SisterWorks, going to markets, business labs, design labs and supporting the Entrepreneurs with her friendly and warm manner. Then SisterWorks reached a new level and was able to offer Sachie a paid role. Today she acknowledges the importance of her work as Business Coordinator. Her dream of working in the development sector was only possible with lessons she learnt at SisterWorks; awareness and context to be able to act, propose and make change happen. Now, Sachie is part of the Oxfam family, but she will always be a Sister for SisterWorks.

Maria Cecilia. Who would have thought that a dentist could also be an amazing craft maker? Well, that’s the case with our garota, Maria Cecilia. She left Brazil excited

to experience a new culture and, holding hands with her husband, they both arrived full of dreams and expectations. But after a few months, she found herself alone and isolated. She no longer wanted to work as a dentist, but wasn’t sure what to do. Then she found SisterWorks. Her role was a volunteer helping women in the Design Labs. Her previous knowledge, although limited, was useful to support others with sewing, crocheting and knitting, but through helping others, she ended up becoming an Entrepreneur. Maria started selling her own crocheted scarves, shawls and fashion items. Her commitment gave her the chance of becoming a contractor and now shares the coordination of the Design Lab. Maria’s dream now is to combine her entrepreneurial efforts with her love for fashion design and earn a full income from her creations.

Ifrin. After moving to Melbourne from Jakarta, Ifrin was the definition of success many women dream about. She worked for a business consulting company, had a great

career and was supported by her growing family. When she had her youngest child, however, she took a break from work and stayed home for three years. She became very bored after her children started school and, like a message from heaven, the religious community where she belonged, offered to connect her with SisterWorks. She began volunteering for SisterWorks by managing IT projects, but then transitioned to be the Head of Finance and is currently the General Manager. She is now very happy with her work-life balance. Thanks to SisterWorks, she can have a career but can also be there for her family, which was difficult to do in her previous job. She says that SisterWorks gives her the feeling of one big family and the opportunity to connect with others who share similar stories.

Sufi. Our Sisters’ backgrounds are our strengths. Sufi, our bookkeeper, came to SisterWorks for local experience, but little did she know, she was giving us the gift of her

experience as the professional she was back in Indonesia. She studied to become an accountant in Jakarta and after a decade of spread sheets she found, with her husband, an opportunity to come to Australia. Having arrived less than a year ago, she knew her challenge was to improve her English in order to start a career here. The lack of local experience haunted her, and she looked everywhere for an opportunity. Sufi found, through a group of migrants like her, the opportunity to volunteer for SisterWorks. She didn’t doubt for a second and since then has been supporting us with our finances and records, first as a volunteer and now as a contractor. Sufi’s dream is to build a life in Melbourne with her husband and a big part of that is continuing to pursue her professional development.

SISTERWORKS STORIES

Page 20: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

20

The big lesson of this year was the importance of connecting the day-to-day with our vision through our 2018–2020 Strategy Plan. The following key objectives will be our focus for connecting present and future.

Business development continues: exploring large wholesale salesLearning from the experience in Corporate Sales, we understand that volume business will allow SisterWorks to engage many more women.

SisterWorks started out by trialling the first wholesale contract via Trio, the pastry shop that belonging to Entrepreneur Joumana and her family, moving later to fair-trade small shops such as Only Just. With some mini successes in wholesale, SisterWorks is working towards expanding

opportunities in this area.

Following a recent meeting with IGA Ritchies, SisterWorks has been offered an amazing wholesale

opportunity for packaged food in three Ritchies Supermarkets on the Mornington Peninsula.

Being able to regularly replenish supermarket shelves means regular production and income for SisterWorks Food Production team. We are excited about our wholesale journey.

The key to our success will be to find organisations such as Ritchies, which have a focus on social impact and the community. We realise the difficulty in competing with mass produced products, and need partners who are willing to support our vision and mission.

What we are building for the future

Chris Nanos – Ritchies Grocery Buyer, Fred Harrison – Ritchies CEO and Christine Richards, our business mentor who connected us with this amazing opportunity.

The Age, 26 April 2018.

Page 21: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

21

Hello Sister – strategy to reach more future EntrepreneursAlthough it is very important for SisterWorks to maintain a main hub in the metro region, it has become clear to us over time that there are women who will simply not travel to us. Or, they may need to gain the trust and confidence to do so with our support. There are many obstacles:• Being unsure about how to navigate Melbourne –

sometimes due to problems with literacy and ability/confidence to speak or understand English.

• The financial stress of paying for public transport.• Lack of trust or confidence in travelling to a

different suburb.• The reliance on their immediate community –

they would only consider travelling within a group.• Not knowing anyone at SisterWorks.

We have developed a project to take the SisterWorks Model to other communities – we will travel to other locations.

Hello Sister will deliver our services to community centres in the outer suburbs of Greater Melbourne where we can directly, and indirectly improve women’s lives in their local communities. There, we will work in partnership with them to set up regular mobile Design Labs. Our mentors will give isolated and long-term unemployed women the initial support to develop and produce products that can generate a quick income through our sales channels and business opportunities.

Hello Sister is more than a van filled with tools and materials; it has ideas, opportunities and industry experts, ready to become social, design and business mentors of unemployed migrant women. We will fit out a van, fill it with craft, cooking tools and materials, and employ a Design Lab Coordinator. With the support of our engagement team, this experienced specialist will facilitate the Mobile Design Labs craft activities.

CITY OF YARRA

SAVE THE CHILDREN

SOUTH YARRA

ASCR

CARRINGBUSH ADULT

EDUCATION RICHMOND

WHITTLESEA COMMUNITY

CONNECTIONSMOBILE LAB MOBILE LAB MOBILE LABMOBILE LABMOBILE LAB

COOKING LABBUSINESS HUB

DESIGN LABSTORAGE

SHOP

DESIGN LABSHOP

RICHMONDSISTERWORKS

HOME

SHOP

DESIGN LAB

BUSINESS LAB

STORAGE

CITY OF YARRA

MOBILE LAB

COOKING LAB

SOUTH YARRA

SHOP

DESIGN LAB

SAVE THE CHILDREN

MOBILE LAB

ASRC

MOBILE LAB

WHITTLESEA COMMUNITY

CONNECTIONS

MOBILE LAB

CARRINGBUSH ADULT

EDUCATION

MOBILE LAB

Page 22: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

22

The importance of grants and fundraising to underpin expansionIt is clear that the SisterWorks Model is unique in supporting the most vulnerable women who are asylum seekers, refugees or migrants, overcoming significant social and employment challenges. To make a greater impact and to reach more women, SisterWorks needs to concentrate its resources in the core activities: driving sales, product development and an engagement/training program.

Fundraising for the Hello Sister projectThe next major fundraising activity is to support the establishment of the Hello Sister project. We hope to raise $80,000–$90,000 with a campaign that will: • Launch in October 2018 with a virtual campaign

and a Photographic Exhibition in the second week of November. Photos capture our most special moments, and Elli Bardas (winner of the inaugural Martin Kantor portrait prize 2017) has captured the hopes and dreams of our Entrepreneurs. We thought the photos were too good not to share, so the idea was born – a photographic exhibition of these dreamers, their stories and their most cherished products.

• Provide a platform to seek corporate sponsors who will be acknowledged on the Hello Sister van.

• Provide focus for a new crowd-funding campaign.

What we are building for the future

Plan to commence our replicationIn order for SisterWorks to provide the benefits of our model to more vulnerable communities, we have realised the importance of working in partnership to replicate the model. We will explore partnerships with local organisations in specific locations using the Hello Sister project – visiting groups of migrant and refugee women in the area, and utilising our “learning by doing” model as a means for them to engage with the broader Australian community and to generate income.

Where we have identified an appropriate partner, we will work with them to replicate the SisterWorks Home. We can scale and adapt our services, and in the process we will strengthen our model. The most likely location in the near future is Shepparton, Victoria. If the Hello Sister initiative is effective in Shepparton, we plan to establish a SisterWorks Home, Workplace and Learning Centre in collaboration with Save the Children.We have identified Shepparton as a pilot because: • Shepparton has a growing new migrant community

and also a large unemployed population. However, it lacks services to support vulnerable migrant women to move into work.

• Save the Children is the perfect partner for SisterWorks, they work with children with migrant and refugee backgrounds, and we can work with their mothers. Save the Children are happy to provide their infrastructure and this will allow us to explore opportunities in areas where they have identified large concentrations of migrant women. With this partnership, we can contribute to employment opportunities in the outer suburbs, regional Victoria and beyond.

Page 23: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

23

About grantsTo date, SisterWorks has yet to receive significant support from the State and Federal Government. To sustain the operation, SisterWorks needs to keep up with grant applications to philanthropic organisations. Writing and applying for grants are time consuming and work intensive activities for SisterWorks. SisterWorks has relied on grants from regular supporters. Potential supporters not knowing SisterWorks or how SisterWorks operates, will require a thorough introduction to SisterWorks’ value proposition.

To help us to articulate the broader value of social outcomes created by SisterWorks, a Social Return of Investment Study on SisterWorks will start in early 2019. The Fouress Foundation is going to fund part of the Social Return On Investment (SROI) certification. This will quantify SisterWorks’ Social and Environmental Impacts, which we believe should garner support from potential supporters, but most importantly from State and Federal Government.

2016-17 INCOME

2017-18 INCOME

TARGET INCOME

Sales Revenue

Sales Revenue

Sales Revenue

Grants

Grants

Grants

OtherIncome

OtherIncome

OtherIncome

DonationsFundraising

DonationsFundraising

DonationsFundraising

Page 24: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

24

Thanks and Acknowledgements

This is just a small sample of the hundreds of valued sponsors, donors and supporters who helped to make SisterWorks grow this year.

5point FoundationA Bit of Jam & PickleAllegra ConsultingAnn BallAnna WoodAshurst LawyersAsylum Seeker Resource

CentreBennelong FoundationBernadette KnightBoyle Telfer & Kooblal

LawyersCaroline MillsChrist Church South YarraCity of YarraCraig HeavenCrown Resorts

FoundationDaisy CooperDavid GoughDavid HuntDeloitte AustraliaElli BardasEmployee Ownership

AustraliaFlinders Art ShowFouress Foundation LtdGandel Philanthropy GirlPhoenix Pty LtdGood2GiveGreg WaymanHaverstock Hill

FoundationHilary DixonHelen Macpherson Smith

Trust

Hynesite Photography Handy KartikaIan Potter FoundationInner North Community

FoundationJan and Peter ClarkJerry HsuJohn and Chris

CollingwoodJohn WarburtonLibby DowlingLord Mayors Charitable

TrustLJM PhotographyMaddocks LawyersMark JankelsonMarshall Family

FoundationMartin & Martin ConsultingMelbourne CeramicsMelbourne Women’s FundMercedes Benz AustraliaMercy FoundationMim Found EnaMountain Goat BeerNational Australia BankNewman’s Own

FoundationNicola SandifordOffice of Multicultural

Affairs and CitizenshipPeter LabattagliaRhiannon EastRichard TreloarRikki AndrewsR.E. Ross Trust

RMITSacre Coeur High SchoolSave the ChildrenSisters of MercySoul Craft ConnectionSouthern Peninsula

Grandmothers against the Detention of Refugee Children

Splice FoundationSt Martin’s Anglican

Church HawksburnSteven GrossSwan Street SalesThe Brunswick Women’s

ChoirThe Funding Network

AustraliaThe Jack Brockhoff

FoundationThe Johnstone Family

FoundationThoughtWorks Australia

Pty LtdTilnak Photographic Fine

Art & EducationVerve PhotographyVictorian Multicultural

CommissionVictorian Women LawyersVivienne McCutcheonWendy RankinWomen in Insolvency and

Restructuring VictoriaWoolley Charitable TrustZena Lythgo

A big Thank You to the SisterWorks Board and staff members, your experience and dedication keeps SisterWorks operating and growing.

To our dedicated volunteers, Thank You. Your commitment gives us so much more than just time. We value your ideas, your experience and most of all, the love you give to the SisterWorks organisation.

And to all our supporters, sponsors and donors, a very big Thank You. It is you who make it possible for us to keep dreaming, to work hard and to be strong. To help us reach for the Southern Cross Stars.

Page 25: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

Financial Report For the year ended 30 June 2018

Page 26: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

Financial Report for the Year Ended 30 June 2018

SisterWorks Inc.ABN 92 370 950 371

393 Swan Street, Richmond 3121 [email protected]

Liability limited by a scheme approved under Professional Standards Legislation

FINANCIAL REPORT CONTENTS

3 Income and Expenditure Statement

4 Balance Sheet

5 Notes to the Financial Statements

6 Statement by Members of the Committee

7 Compilation Report

8 SisterWorks Board Member Affiliations

Page 27: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

FINANCIAL REPORT 2017-18 3

Financial Report for the Year Ended 30 June 2018

2018 2017

Note $ $

INCOME

SisterWorks Revenue 149,227 84,428

Other Income 6,995 4,014

Grants 238,606 396,481

Donor and Fundraising Revenue 215,441 99,008

Total Income 610,269 583,931

EXPENDITURE

Contractor and Employee Costs 281,891 210,743

SisterWorks Home 75,040 53,821

Production 28,048 5,804

Lab 4,271 7,392

Shop 22,869 6,888

Entrepreneurs Revenue Share 87,183 52,404

Marketing 16,836 213

Operational Consultancy and Development 28,214 511

Total Expenditure 544,351 337,775

Current Year Surplus/(Deficit) Before Income Tax 65,918 246,156 Net Current Year Surplus After Income Tax 65,918 246,156

Income and Expenditure Statement – For the Year Ended 30 June 2018

The accompanying notes form part of these financial statements.These statements should be read in conjunction with the attached compilation report.

Page 28: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

4 FINANCIAL REPORT 2017-18

Assets and Liabilities Statement – As at 30 June 2018

2017 2016

Note $ $

ASSETS

Current AssetsCash and Cash Equivalents 2 536,614 439,562

Trade and Other Receivables 3 5,026 31,039

Total Current Assets 541,640 470,601Total Assets 541,640 470,601

LIABILITIES

Current LiabilitiesTrade and Other Payables 4 8,717 673

Provisions 5 26,888 29,810

Total Current Liabilities 35,605 30,483Total Liabilities 35,605 30,483

Net Assets 506,036 440,118

MEMBER’S FUNDS

Accumulated Surplus 506,036 440,118

Total Member’s Funds 506,036 440,118

The accompanying notes form part of these financial statements.These statements should be read in conjunction with the attached compilation report.

Financial Report for the Year Ended 30 June 2018

Page 29: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

FINANCIAL REPORT 2017-18 5

Financial Report for the Year Ended 30 June 2018

2018 2017

$ $

2. Cash on Hand

NAB Term Deposit 7373 0 31,252

NAB Term Deposit 2057 0 56,307

Cash float for Shop 440 329

Comm Business Debit Card 9324 2 2

Comm Business Tran Acct 7418 13,005 11,515

Comm Online Saver 7434 (24) (10)

Comm Term Deposit 8234 15,663 15,554

NAB Business Payment Card 8312 1,983 927

NAB Savings Account 1175 171,980 66,536

NAB Term Deposit 0038 11,842 11,842

NAB Term Deposit 2521 263,012 0

NAB Transactions Account 5805 47,901 241,822

PayPal 10,809 3,488

Total Cash on Hand 536,614 439,562

3. Trade and Other Receivables

Accounts Receivable 1,790 31,007

Rental Bond 1,400 0

GST Receivable 1,837 (673)

Total Trade and Other Receivables 5,026 30,334

4. Trade and Other Payables

Accounts Payable 8,637 0

Giftcards 80 0

Total Trade and Other Payables 8,717 0

5. Provisions

Accrued Employee Entitlements 7,811 7,159

PAYG Withholdings Payable 13,642 16,494

Salary sacrifice superannuation payable 0 481

Superannuation Payable 5,435 5,676

Total Provisions 26,888 29,810

These notes should be read in conjunction with the attached compilation report.

Notes to the Financial Statements – For the Year Ended 30 June 2018

1 Summary of Significant Accounting Policies

The financial statements are special purpose financial statements prepared in order to satisfy the financial reporting requirements of the Associations Incorporation Reform Act 2012. The committee has determined that the association is not a reporting entity.

The financial statements have been prepared on an accruals basis and are based on historic costs and do not take into account changing money values or, except where stated specifically, current valuations of non-current assets.

Page 30: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

6 FINANCIAL REPORT 2017-18

Financial Report for the Year Ended 30 June 2018

Statement by Members of the Committee

The committee has determined that the association is not a reporting entity and that this special purpose financial report should be prepared in accordance with the accounting policies outlined in Note 1 to the financial statements.

The committee of the association declare that:

1. The financial statements and notes, present fairly the association’s financial position as at 30 June 2018 and its performance for the year ended on that date in accordance with the accounting policies described in Note 1 to the financial statements; and

2. In the committee’s opinion there are reasonable grounds to believe that the association will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the members of the committee.

Committee member:

Mark Jankelson

Committee member:

Luz Restrepo

Dated this day of: 18 September 2018

Page 31: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

FINANCIAL REPORT 2017-18 7

Financial Report for the Year Ended 30 June 2018

Assurance Disclaimer

Since a compilation engagement is not an assurance engagement, we are not required to verify the reliability, accuracy or completeness of the information provided to us by management to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on these financial statements.

The special purpose financial statements were compiled exclusively for the benefit of the committee which is responsible for the reliability, accuracy and completeness of the information used to compile them. The committee does not accept responsibility for the contents of the special purpose financial statements.

Name of Firm:

Martin & Martin Consulting Pty LtdChartered Accountants

Name of Director:

Andrew Martin

Address:

5 Theatre Place, Canterbury VIC 3126

Dated this day of: 18 September 2017

We have compiled the accompanying special purpose financial statements of SisterWorks Inc, which comprise the asset and liabilities statement as at 30 June 2018, income and expenditure statement, a summary of significant accounting policies and other explanatory notes. The specific purpose for which the special purpose financial statements have been prepared is set out in Note 1.

The Responsibility of the Committee Members

The committee of SisterWorks Inc. is solely responsible for the information contained in the special purpose financial statements, the reliability, accuracy and completeness of the information and for the determination that the basis of accounting used is appropriate to meet its or committee needs and for the purpose that financial statements were prepared.

Our Responsibility

On the basis of information provided by the partners we have compiled the accompanying special purpose financial statements in accordance with the basis of accounting as described in Note 1 to the financial statements and APES 315 Compilation of Financial Information.

We have applied our expertise in accounting and financial reporting to compile these financial statements in accordance with the basis of accounting described in Note 1 to the financial statements. We have complied with the relevant ethical requirements of APES 110 Code of Ethics for Professional Accountants.

Compilation Report to Sisterworks Inc. ABN 92 370 950 371

Page 32: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

8 FINANCIAL REPORT 2017-18

Financial Report for the Year Ended 30 June 2018

Mark Jankelson – SisterWorks Board Chair

Mark has a B.Com (Accounting and Economics) from Rhodes University and an MBA from the University of the Witwatersrand Business School (Dissertation with Distinction). Mark has almost 40 years of global experience in people management – 14 of these at CEO level in the management consulting industry, and the balance with large multi-national corporations in a variety of senior human resources roles. Mark has served as an advisor to Boards and Chief Executives on the entire range of organisation and people- related issues. Currently he is engaged in a portfolio of activities including: running Boonderoo Walnut Company – a successful commercial walnut business with orchards in Central Victoria and Southern NSW (as featured in DecisionAg, September 2015) with his wife, Hilary; Honorary Fellow at the Centre for Ethical Leadership at Melbourne University; Board Chair and Partner investor in Social Venture Partners Melbourne.

Sonya Davies – SisterWorks Deputy Chair

(until February 2018)

Sonya has enjoyed a diverse background in marketing for small to medium businesses with her own consultancy – The Davies Factor, which started in 1989. This has exposed her to mature businesses and start ups across industries from building materials to entertainment. She has also started other businesses including a road marking company, an Australian nutraceuticals company and for the last ten years a day spa in Bali.

2017-18 Sisterworks Board Member Affiliations

Astrid Santoso – SisterWorks Treasurer

Astrid graduated from Deakin University with Bachelor of Commerce (Accounting, Finance and Financial Planning) and is a Chartered Accountant at Martin & Martin Consulting. Astrid’s expertise lies in business advisory services and taxation. Astrid joined SisterWorks’ Board in 2017 and is also a member of the Financial Committee and Risk Management.

Luz Restrepo – SisterWorks Founder,

CEO and Company Secretary

Luz arrived in Australia in 2010, as a political refugee. The medical doctor and communication expert came with two suitcases, little English, no Australian contacts and very little money. She was frightened, isolated and disempowered. Luz discovered that there were other women who felt the same way, so she set about to change that. The seeds were planted in 2011, when she and 25 other women experiencing similar challenges started to make and sell crafts around Melbourne. In 2013, Luz and a committee of volunteers, established SisterWorks Inc. As founder and CEO, Luz advocates for entrepreneurship, multi-culturalism and women working together to empower themselves. Now an Australian citizen, Luz lives with her husband Sergio, and has two strong daughters – one in Melbourne, and one in Berlin.

Alia Sultana – SisterWorks Board Member

After completing her Bachelor of Arts degree (Psychology) in Pakistan, Alia married a well- respected businessman and raised four children. For 30 years, she was a devoted mother and housewife, however when her husband received threats from the Taliban and her family was persecuted for being Hazaras, they sought political asylum in Australia. She began working with Luz and SisterWorks right from the start, and although her new life was filled with challenges and financial hardships, this was a beginning of a very bright future. Alia’s passion for creating delicious food has motivated her to start a family restaurant and catering business – AMI District in Dandenong.

Page 33: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

FINANCIAL REPORT 2017-18 9

Financial Report for the Year Ended 30 June 2018

Angela Perry – SisterWorks Board Member

Angela works with social enterprises, charities, impact businesses and startups that have female founders or a female focus. She is a qualified English Barrister and Australian solicitor, and has acted as a consultant for some of the top Australian and UK public and private companies as well as large internationals.

Catherine Lynch – SisterWorks Board Member

As a skilled commercial lawyer, Catherine made a successful transition to financial services governance and compliance, and onto sales leadership with a proven track record delivering revenue growth, transformation, regulatory programmes and turnaround across scale – from start ups to multi-nationals – in different sectors. Catherine has worked in banking, technology, legal, logistics and supply chain industries in Australia and the UK.

Eliza Blandford – SisterWorks Board Member

Eliza brings over 10 years’ experience as a lawyer at Ashurst, a global law firm that supports SisterWorks through its pro bono legal services. Eliza works in the Corporate Transaction team on mergers and acquisitions, corporate advisory and structuring. Eliza became a SisterWorks’ Committee Member in 2016 and is also a member of the Governance and Human Resources Committee.

John Collingwood – SisterWorks Board Member

John graduated from the University of Melbourne with a Bachelor of Commerce and has had a long career in management. Amongst other positions he was the Managing Director at Johnson Tiles Pty Ltd from 1990 to 1996 where he was also Chairman from 1996 to 2002. He was chairman at Norcros Building Products from 1996 to 2002 and has been the Non Executive Director since 1991 at NHP Holdings P/L. John is in charge of the SisterWorks Financial Committee and Risk Management.

Satomi Shimizu – SisterWorks Board Member

Satomi is from Japan where she worked as a personal assistant. In 2009, Satomi moved to Sydney where she started to learn English before moving with her husband to Melbourne where she knew no one. Satomi met Lhakpa at the St Kilda Esplanade Market, who introduced her to SisterWorks. Initially, Satomi volunteered at SisterWorks, and then she developed uniquely Japanese products to sell in the SisterWorks shop. Additionally, Satomi has started an educational consultancy business for international students on her own.

Victoria Minani – SisterWorks Board Member

While Tanzania is the last place Victoria stepped foot on in Africa, she in fact comes from Burundi – a small nation with more than its fair share of civil war. Victoria spent a year in a refugee camp before being granted residency in Tanzania. Thirty-five years later she immigrated to Australia with her husband and child. It was her mother-in-law who introduced her to SisterWorks, connecting her to many other women learning a new life in this country. “It’s helping me financially but I always like the connection too. I’m really pleased to have been developing skills and learning more about small business here in Australia.”

Page 34: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

MADEW I T H

LOVE

LO

CA

LLY ETH ICA

LL

Y

SI S

T E R W O R

KS

Page 35: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website
Page 36: Annual Report - SisterWorks · entrepreneurial dreams. We also want to encourage ... connections within the wider community, and set up two retail shops and a fully operational website

Through support for each other we have strengthened each other. SisterWorks

is a strong and connected family. Each experience is a piece to our bigger

picture which pushes us to reach our dreams, to grab hold of our Southern Cross Stars.

SisterWorks Inc. ABN 92 370 950 371

393 Swan Street, Richmond [email protected] sisterworks.org.au

MADEW I T H

LOVE

LO

CA

LLY ETH ICA

LL

Y

SI S

T E R W O R

KS